Recent Share Purchase Announcement by Hargreave Hale AIM VCT
Announcement of Share Purchase for Cancellation
Hargreave Hale AIM VCT PLC, a prominent investment company, has made a significant move by purchasing its own shares for cancellation. This action, announced recently, reflects the Company's commitment to optimizing its capital structure and providing shareholder value.
Details of the Share Purchase
On the announcement date, the Company revealed that it bought back a total of 23,021 ordinary shares, each at a price of 33.92 pence. This transaction is vital as it results in the cancellation of these shares, thus reducing the total share count and enhancing the overall ownership value for existing shareholders.
Current Share Count After Cancellation
As a result of the recent share buyback, Hargreave Hale AIM VCT has adjusted its issued share capital. With the cancellation, there will now be 371,886,948 ordinary shares remaining in circulation. Each of these shares carries one vote, reflecting a clear and direct influence for shareholders in corporate decisions.
Implications for Shareholders
This change in share structure is particularly important for shareholders. They can utilize the new figure of 371,886,948 shares as the basis for calculating their interests in the Company's share capital. This is crucial in accordance with the Disclosure and Transparency Rules, which require shareholders to report significant changes in their shareholding.
Corporate Governance and Transparency
Hargreave Hale AIM VCT prides itself on its commitment to transparency and sound corporate governance. The cancellation of purchased shares not only reflects the Company’s strategy towards efficient capital management but also demonstrates responsiveness to the changing economic environment.
Contact Information
For inquiries, shareholders and interested parties may contact JTC (UK) Limited, the Company Secretary. The team includes Uloma Adighibe and Alexandria Tivey, who can be reached at HHV.CoSec@jtcgroup.com. Direct phone contact is available at +44 203 832 3877 or +44 203 832 3891.
Frequently Asked Questions
1. What motivated Hargreave Hale AIM VCT to buy back shares?
The share buyback aligns with the Company’s strategy to enhance shareholder value by reducing the number of shares in circulation.
2. How many shares remain outstanding after the buyback?
After the purchase and cancellation, a total of 371,886,948 ordinary shares remain in issue.
3. What is the impact of share cancellation on voting rights?
The cancellation of shares decreases the total number of shares, thereby increasing the voting power of existing shareholders.
4. How should shareholders use the new share count?
The updated share count can be used to assess their ownership percentage and determine any need to report changes in shareholding as per regulatory requirements.
5. Who can I contact for more information on share transactions?
Shareholders can reach out to JTC (UK) Limited for assistance with queries regarding share transactions and corporate governance.
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